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The introduction of the new VAT collection mechanism, known as VAT Split, was included in GO no. 23/2017, which states that as of 1 January 2018 companies registered for VAT purposes will have to open a new VAT account. Although several forms of Split VAT were circulated in its final form published in the Official Gazette, the document states that the VAT splitting mechanism is only mandatory for insolvent firms and those paying VAT, the other companies being able to opt for split VAT on a voluntary basis.